Saudis buy major supplier to U.S. military

[IChing]

Tuesday, July 31, 2007

Saudis buy major supplier to U.S. military

WASHINGTON — Saudi Arabia has acquired a Massachusetts firm that is a leading supplier to the U.S. military.
The state-owned Saudi Basic Industries Corp. has purchased GE Plastics from General Electric for $11.6 billion. Based in Pittsfield, Mass., GE Plastics, with 11,000 employees, develops and manufactures plastic polymers, composites and polycarbonates used in U.S. military platforms, including fighter-jets, submarines and engines.

"SABIC's intention is to grow globally," SABIC chief executive officer Mohamed Al Mady said.

In May 2007, SABIC announced the acquisition of GE Plastics, regarded as the largest transaction ever completed in the United States by a Gulf Cooperation Council state. Seventy percent of SABIC, which employees 17,000 people, is owned by the Saudi government, with Middle East investors accounting for the rest of the company.
SABIC, established in 1976, bested the U.S.-based Apollo Management and the Dutch firm Bassell for the acquisition of GE Plastics. The Saudi company offered $11.6 billion for GE Plastics.

The purchase of GE Plastics must be approved by the Committee on Foreign Investments in the U.S, aligned with the Treasury Department. In March 2006, CFIUS enabled the purchase of Britain's Peninsular and Oriental Steam Navigation Co., which operates the six major U.S. ports, by the United Arab Emirates.

edited for link: http://www.worldtribune.com/worldtribune/WTARC/2007/me_saudis_07_31.asp

[ThomWV]

1. Why Would This Suprise Anyone?

How many billions of dollars do we send them every year for the oil we get from them? I would think they would invest some of it in this country, it only makes sense.

[IChing]

3. This is a state owned company of the Saudi family

buying a major US supplier to the Military.......My mouth dropped open when I saw this.
The bush family ties to the Saudi family are disgusting and criminal

[ayeshahaqqiqa]

2. A majority of the hijackers on 911 were Saudi

Saudis comprise a majority of the insurgent fighters in Iraq. Saudi Arabia exports a reactionary right wing brand of Islam that gave rise to the Taliban and Osama bin Laden. And Bush thinks its ok to sell GE Plastics to them?

[Vincardog]

6. jr. sold nukes it India. Why would he have a problem with this?

[aquart]

4. Wow, I feel secure.

The guys who flew into the WTC are supplying our soldiers. Greeeeaaat.

[Kagemusha]

7. We supply our enemies all the time. Why shouldn't our enemies supply us?

...Okay, that's a little tongue in cheek, but you get my point. If you're going to oversimplify on one side you can oversimplify on the other.

But anyway, I was more surprised that they let BAE buy Armor Holdings. This Saudi group hasn't been specifically accused of things like BAE has. The main thing against them is purely that they're Arabs.

[aquart]

16. Totally unimpressed.

[TahitiNut]

5. Someday, our Prince will come.

:puke:

[liberal N proud]

8. Selling the terrorist access to proprietary information

Makes so much fucking sense doesn't it?

[Disturbed]

10. The Saudi Royals are personal friends of Busholini & the

Bush Family. Pelosi said that Busholini is a lovely man. That should be enough for this sale to go through. Dems just don't understand Capitalism.

[liberal N proud]

11. RiiiiggGGHT!

[Fridays Child]

9. Alexander Solzhenitsyn once mentioned something about...

...how Western Capitalism would sell its enemy the rope to hang itself.

[robertpaulsen]

12. They buy our arms, then give Iraq suicide bombers. Isn't that ironic?

Saudis' role in Iraq insurgency outlined
Sunni extremists from Saudi Arabia make up half the foreign fighters in Iraq, many suicide bombers, a U.S. official says.
By Ned Parker, Times Staff Writer
July 15, 2007

BAGHDAD — Although Bush administration officials have frequently lashed out at Syria and Iran, accusing it of helping insurgents and militias here, the largest number of foreign fighters and suicide bombers in Iraq come from a third neighbor, Saudi Arabia, according to a senior U.S. military officer and Iraqi lawmakers.

About 45% of all foreign militants targeting U.S. troops and Iraqi civilians and security forces are from Saudi Arabia; 15% are from Syria and Lebanon; and 10% are from North Africa, according to official U.S. military figures made available to The Times by the senior officer. Nearly half of the 135 foreigners in U.S. detention facilities in Iraq are Saudis, he said.

Fighters from Saudi Arabia are thought to have carried out more suicide bombings than those of any other nationality, said the senior U.S. officer, who spoke on condition of anonymity because of the subject's sensitivity. It is apparently the first time a U.S. official has given such a breakdown on the role played by Saudi nationals in Iraq's Sunni Arab insurgency.

He said 50% of all Saudi fighters in Iraq come here as suicide bombers. In the last six months, such bombings have killed or injured 4,000 Iraqis.

http://www.latimes.com/news/nationworld/world/la-fg-saudi15jul15,0,3818698,full.story

[mhatrw]

13. This is so fucked up. Their state owned conglomerates can buy the privately owned

concerns that feed at the US taxpayer trough and nobody mentions one word about the supposed evils of socialism. Their socialism is somehow just so dandy that it's A-OK for it to feed at OUR taxpayer trough. But suggest socializing anything internally, and you'd better prepare yourself for armageddon.

Why can't we simply NATIONALIZE the entire defense industry to get rid of the profit motive both internally and, even more critically, EXTERNALLY? Why should SA's socialized corporations profit from our irrational fear of homegrown USA socialism, even when it come to defending ourselves? More bluntly, why is it OK for their socialized industries to profit off our tax dollars, but unthinkable for us to simply socialize our entire defense industry?

[Disturbed]

14. Does GE own any TV stations?

Yeah.

NBC Universal - Wikipedia, the free encyclopedia

GE owns 80% of NBC Universal with the remaining 20% owned by Vivendi SA. .... The stations are co-owned with LIN TV in a joint venture (76% owned by NBC, ...
en.wikipedia.org/wiki/NBC_Universal -

[NuttyFluffers]

15. *snicker* Saudi Arabia plays a very good game of velvet gloved control

this is an interesting development. i wonder how long it will take before people get hip to this... probably too late. :spray: